by The global construction chemicals market consists of various waterproofing chemicals, concrete admixtures, protective coatings, and asphalt modifiers that are designed to protect infrastructure from environmental factors. Construction chemicals provide durability and aesthetics to structures and increase their service life by imparting properties such as workability, pumpability, water retention, and crack prevention. The increasing demand for advanced infrastructure and the rising number of construction activities across both commercial and residential sectors are propelling the demand for construction chemicals.
The global Construction Chemicals Market is estimated to be valued at US$ 91.95 billion in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends gaining traction in the construction chemicals market is the rising demand for green and sustainable construction materials. Eco-friendly construction involves the use of recyclable, non-toxic and energy-efficient materials during construction that help reduce environmental impact. With growing environmental awareness, many construction chemical manufacturers are developing bio-based and low VOC products. Moreover, rapid urbanization has increased infrastructure development in emerging economies like India, China, Brazil, and others, which is a major factor driving the Asia Pacific construction chemicals market. Supportive government policies and initiatives towards infrastructure development are also propelling the construction chemicals demand. However, stringent environmental regulations around the globe may restrain market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the construction chemicals market is moderate. High capital requirements due to established distribution channels and brand value retention for existing players create entry barriers.
Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of alternatives and standardized products. Switching costs are also low for buyers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials are commoditized. Suppliers have less influence over prices due to availability of substitutes.
Threat of new substitutes: Threat of new substitutes is low as construction chemicals have few substitutes and customers stay loyal to branded products.
Competitive rivalry: Competition in the market is high among the existing international players operating globally. Players differentiate products through innovation and customer service.
Key Takeaways
The Global Construction Chemicals Market Demand is expected to witness high growth over the forecast period. The global Construction Chemicals Market is estimated to be valued at US$ 91.95 billion in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024-2031.
Regional analysis: Asia Pacific region is expected to emerge as the fastest growing region in the construction chemicals market due to ongoing infrastructure development projects and housing construction activities. China dominates the Asia Pacific construction chemicals market supported by government initiatives for infrastructure development.
Key players: Key players operating in the construction chemicals market are 3M Company, Dentsply Sirona, Danaher Corporation, Mitsui Chemicals, Inc., Institut Straumann AG, Septodont Holding, Ivoclar Vivadent AG, Coltene Holding AG, GC Corporation, and Zimmer Biomet Holdings, Inc. among others. 3M Company is a leading player in the market with wide geographical presence and diversified product portfolio
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
